Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 10.9%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares traded down 10.9% during trading on Thursday . The company traded as low as $13.18 and last traded at $13.54. 1,255,054 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 776,140 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

DAWN has been the topic of several research analyst reports. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Day One Biopharmaceuticals Stock Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -5.68 and a beta of -1.48. The business has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Research analysts predict that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $16.11, for a total value of $322,200.00. Following the sale, the insider now directly owns 1,224,662 shares of the company’s stock, valued at approximately $19,729,304.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the transaction, the insider now owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,781 shares of company stock valued at $883,160. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAWN. Vanguard Group Inc. raised its stake in Day One Biopharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock valued at $56,807,000 after purchasing an additional 346,090 shares during the last quarter. Franklin Resources Inc. grew its stake in Day One Biopharmaceuticals by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 4,236,795 shares of the company’s stock worth $61,857,000 after acquiring an additional 169,463 shares during the period. Braidwell LP lifted its stake in shares of Day One Biopharmaceuticals by 13.5% during the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Day One Biopharmaceuticals by 28.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after purchasing an additional 472,654 shares during the period. Finally, Polar Capital Holdings Plc increased its stake in Day One Biopharmaceuticals by 9.0% in the third quarter. Polar Capital Holdings Plc now owns 1,935,000 shares of the company’s stock valued at $23,742,000 after purchasing an additional 160,385 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.